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Carmel By The Sea is not a typical rental market. Short-term vacation rentals, high-end second homes, and boutique investment properties define this coastal enclave.
As of April 2026, investor demand here is driven by scarcity. Properties rarely sit. When they do list, competition is real and cash offers are common.
680+ typical
Min Credit Score
20-25% minimum
Down Payment
5-10 days
Hard Money Close
2-3 weeks
DSCR Close
None (DSCR/HM)
Income Docs Required
Investor Loans in Carmel-by-the-Sea
Investor loans are non-QM products. Lenders don't use your W-2. They qualify you on the property's income or your asset base.
Most DSCR lenders want a 680+ credit score and 20-25% down. Some go lower on score if the deal cash-flows strongly.
Local decision guide
Use this guide to connect investor loans eligibility, lender expectations, and local market factors before comparing payment options in Carmel-by-the-Sea.
Carmel By The Sea is not a typical rental market. Short-term vacation rentals, high-end second homes, and boutique investment properties define this coastal enclave.
As of April 2026, investor demand here is driven by scarcity. Properties rarely sit. When they do list, competition is real and cash offers are common.
Investor loans are non-QM products. Lenders don't use your W-2. They qualify you on the property's income or your asset base.
Retail banks rarely touch Carmel investment deals. Their box is too tight for vacation rental income or non-warrantable condos.
Wholesale lenders built for investor products are a different story. We work with 200+ of them — and the right one depends on your deal structure.
Carmel short-term rentals complicate DSCR underwriting. Most lenders want long-term lease income, not Airbnb projections. Know that upfront.
Bridge loans and hard money are common entry points here. Investors close fast, then refinance into a DSCR once the property seasons.
Conventional investment loans cap at 10 financed properties and require full income documentation. DSCR loans have no such cap.
Hard money closes in days. DSCR closes in weeks. Conventional closes in 30-45 days — if it closes at all on a Carmel investment property.
Monterey County has strict short-term rental ordinances. Verify your permit eligibility before you close — it changes your income story entirely.
Non-warrantable condos and historic cottages are common in Carmel. Many standard lenders won't touch them. Portfolio and hard money lenders will.
Most DSCR lenders want a signed long-term lease, not STR projections. Some accept market rent appraisals. Ask before assuming your Airbnb numbers count.
Plan on 20-25% minimum for DSCR loans. Hard money lenders may go higher. Some bridge products allow less with cross-collateral.
Hard money can close in 5-10 days. DSCR typically takes 2-3 weeks. Conventional investor loans run 30-45 days.
Not for DSCR or hard money loans. Those programs skip personal income entirely. The property's numbers — or your assets — drive the deal.
DSCR loans are non-QM, so conforming limits don't apply. Lenders set their own maximums. Jumbo DSCR options exist for high-value Carmel properties.